Itâ€™s Time to Retire the US Militaryâ€™s Retirement System
AbstractThe author outlines a retirement system for the most expensive government organisation in the world â€“ the US military. The plan incorporates positive aspects of both defined benefit and defined contribution plans that cost less and are more valuable to service members than the current system, which was put into place in 1947. The paper uses previous studies that reflect service membersâ€™ â€˜valueâ€™ of retirement pensions and US Department of Defense net present value assumptions to prove his case and demonstrate how the DoD can save tens of billions of US dollars, while increasing the value of the plan in the eyes of those who serve. This paper builds on previous work done in 2006, when the author wrote a paper titled â€˜Is It Time to Update the Armyâ€™s Retirement System?â€™. However, this paper focuses more broadly on the overall military retirement system and takes into account the changes that have occurred since 2006 regarding the general debate on retirement pensions, the macroeconomic conditions that have changed drastically in four years, the political reality of future government budget cuts (such as with the military retirement system), and the fact that anything related to military compensation being a target because US military benefits (primarily health care, pay, and bonuses) have increased steadily over the years since 2001.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE in its journal World Economics Journal.
Volume (Year): 11 (2010)
Issue (Month): 4 (October)
Contact details of provider:
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ed Jones).
If references are entirely missing, you can add them using this form.